Fri, Oct 28, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Prologue Capital cautious on the great rotation, sees positive signs in US economy

Friday, March 01, 2013

Tomas Jelf
Bailey McCann, Opalesque New York:

Prologue Capital, a London and Connecticut based, hedge fund focused on global macro sees a variety of cautiously positive trends in the US and global economies according to their most recent investor letter, obtained by Opalesque. The fund has approximately $2bn AUM. In the letter, Tomas Jelf, Chief Economist at Prologue Capital, notes that the US is leading the recovery out of the 2008 financial crisis and the housing sector is starting to show signs of strength that they expect to last for years to come.

Jelf notes that the 'great rotation' thesis advanced by some market participants may still be a bit early. He highlights recent reports from Credit Suisse showing that inflows continue into both bonds and equities, bolstered by the burgeoning growth trend. However, there are some clouds on the horizon, the high rates of unemployment, global economic deflation, and flare ups in the EU and Middle East could happen again.

In the letter, Jelf writes that the end of the payroll tax holiday and budget austerity in the US are likely to add a 1% drag on GDP. Jelf's feelings largely track other managers looking at macroeconomic factors as part of their investment strategy. In our recent Opalesque TV conversation with Patrick Wolff of Grandmaster Capital, he also sees the rise of 'fortress USA&......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa

  2. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  3. Opalesque Roundtable: Style drift, poor communications and credibility fatigue are biggest red flags for hedge funds investors[more]

    Komfie Manalo, Opalesque Asia: Style drift, poor communications and credibility fatigue are the biggest red flags for hedge funds investors, said participants of the latest 2016 Opalesque Investor Roundtable, sponso

  4. Barclay CTA Index down 0.40% in September (+0.10% YTD)[more]

    Managed futures traders lost 0.40% in September according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.10% year to date. “The US Fed, in spite of its hawkish tone, opted to hold rates steady which roiled financial markets,” says Sol Waksman, founder and president of BarclayHe

  5. Opalesque Exclusive: Meet Emma, your friendly A.I. helper[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Shaunka Khire, who co-designed an artificial intelligence (AI) robot called EMMA/MANSI, talks to Opalesque